Verizon had been sniffing around a possible move into Canada
for months. But shortly after clinching a mega $130 billion deal
to buy Vodafone Group out of its U.S. wireless business
on Monday, the U.S. telecom giant made clear it will not enter
the Canadian market for now.

Canadian telecom shares were hammered in June on early
reports that Verizon, which has more U.S. mobile subscribers
than Canada has citizens, was looking at expanding north.

"Those Labour Day fireworks are probably champagne corks
flying from the headquarters of Rogers, Telus and BCE," said
National Bank analyst Adam Shine.

Shares in Rogers surged 8 percent in midday trading on the
Toronto Stock Exchange, while those in Telus and BCE rose 7.7
percent and 4.2 percent, respectively, as analysts raised their
price targets and ratings on the trio following the Verizon
announcement.

National Bank's Shine himself lifted his price target on
shares in Rogers to C$47.50 from C$44, in Telus to C$36 from
C$33 and in BCE to C$45.50 from C$44.

Verizon's decision marks a lost opportunity for investors in
Canadian telecom startups Mobilicity and its larger rival Wind
Mobile, partly owned by European telecom giant Vimpelcom
.
Continued...